MPs will examine the fairness of student loans repayment in a new inquiry following increasing debate over the system.

The Treasury Committee is asking young people for their views on issues like whether they would still take out loans today and how their student loan repayments are impacting their finances.

Chancellor Rachel Reeves said any change to the student loan system would have to be “fully costed and fully funded”, and indicated that the Government had prioritised other spending commitments in the NHS and defence.